The two least common competitive structures at the opposite ends of the continuum are
A) monopolies and oligopolies.
B) pure competition and monopolies.
C) monopolistic competition and monopolies.
D) pure competition and no competition.
E) oligopolies and pure competition.

Question

Quizplus · Accepted Answer

Pure competition and monopolies are the two least common competitive structures at the opposite ends of the continuum. Pure competition is characterized by a large number of small firms producing identical products with no barriers to entry or exit, while monopolies are characterized by a single firm dominating the market with significant barriers to entry for other firms. Monopolistic competition and oligopolies fall somewhere between these two extremes in terms of market structure.

The Two Least Common Competitive Structures at the Opposite Ends